USD 1.70 billion
Portable Ultrasound Devices Market Size, Share, Growth Analysis, By Type(Laptop-based, Handheld), By Application(Obstetrics/Gynecology, Cardiovascular, Urology, Gastric), By Technology(2D Ultrasound, 3D & 4D Ultrasound, Doppler Ultrasound, High-intensity Focused Ultrasound), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2571 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
97
|Figures:
66
Portable Ultrasound Devices Market Insights
Global Portable Ultrasound Devices Market size was valued at USD 1.70 billion in 2021 and is poised to grow from USD 1.80 billion in 2022 to USD 2.78 billion by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).
The medical technology landscape is experiencing a surge in advancements, and this, coupled with a growing preference among patients for minimally invasive treatments, is driving notable growth in the market. One of the key manifestations of this trend is the extensive adoption of imaging systems, particularly portable ultrasound devices, in emergency care settings.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Handheld
Fastest Growth
Laptop-based
Growth Rate
5.6% CAGR
Global Portable Ultrasound Devices Market ($ Bn)
Country Share for North America Region (%)
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Portable Ultrasound Devices Market Segmental Analysis
The global portable ultrasound devices market is segmented into four major segments i.e. by type, application, technology and region. Based on type the market is segmented as, laptop-based, handheld. Based on application the market is segmented as, obstetrics/gynecology, cardiovascular, urology, gastric, musculoskeletal, Others. Based on technology the market is segmented as, 2D Ultrasound, 3D & 4D ultrasound, doppler ultrasound, high-intensity focused ultrasound, end-use, hospitals & clinics, home care, others. Based on region, the market is segmented as, North America, Europe, Asia Pacific, Latin America.
Analysis by Type
The handheld ultrasound devices segment emerged as the dominant player in the market, commanding a substantial revenue share of over 55.0%. This segment is anticipated to sustain its prominence and register the fastest CAGR throughout the forecast period. The driving force behind this growth is the continuous evolution of technology, leading to enhancements in picture quality for handheld ultrasound devices.
Laptop-based ultrasound devices have emerged as versatile tools in medical settings, capable of being used at the bedside either on a cart or by hand, thanks to their compact designs. These devices boast advanced imaging capabilities and robust battery power backup, offering benefits that substantiate their cost. The small and portable nature of these ultrasound devices not only enhances clinical efficiency but also provides flexibility in their utilization.
Analysis by Application
The obstetrics/gynecology segment emerged as the dominant force in the global portable ultrasound devices market, commanding a substantial revenue share exceeding 45.0% in 2022. This dominance can be attributed to the critical role that hand-held and laptop-based devices, equipped with high-end imaging techniques, play in obstetric and gynecological applications.
In 2022, the cardiovascular segment is projected to witness a CAGR of 7.1% over the forecast period, primarily driven by the rising prevalence of cardiovascular disorders (CVD) on a global scale. The alarming increase in the incidence of cardiovascular diseases has become a significant health concern, propelling the demand for advanced diagnostic tools and imaging technologies.
Global Portable Ultrasound Devices Market By Type
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Portable Ultrasound Devices Market Regional Insights
North America emerged as the leader in the global portable ultrasound devices market, commanding a substantial revenue share exceeding 40.0% in 2022. The region's dominance can be attributed to the rapid advancements within the medical sector, a robust allocation of funds for medical research, and ongoing developments in healthcare technology.
Asia Pacific is poised to exhibit a robust CAGR of 6.7% over the forecast period anticipated to be the fastest-growing market in 2022 . The region's rapid growth is fueled by a combination of factors, including the increasing population and evolving lifestyle habits contributing to a rising incidence of diseases.
Global Portable Ultrasound Devices Market By Region
- Largest
- Fastest
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Portable Ultrasound Devices Market Dynamics
Drivers
Growing Patient Population Base in Lung Diseases and Lifestyle-based Disorders
- Asthma, chronic obstructive pulmonary disease (COPD), lung cancer, acute lower respiratory tract infections, and tuberculosis stand out as significant contributors to the spectrum of lung-related diseases. According to the American Lung Association, these conditions collectively impact millions of individuals in the United States. Asthma, a chronic respiratory condition, affects a substantial 24.8 million Americans.
Restraints
Strict Government Regulations, Insufficient Well-Trained and Skilled Personnel
- The growth of the global portable ultrasound devices market faces several challenges, including the impact of rising interest rates and inadequate public health coverage, which can impede market expansion. Additionally, the high cost associated with ultrasound devices acts as a deterrent, preventing the market from reaching its full potential.
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Portable Ultrasound Devices Market Competitive Landscape
The competitive environment of the global portable ultrasound devices market is characterized by a dynamic interplay of key players and evolving strategies within the food processing industry. Innovation is a key competitive factor. smaller and niche players are making a notable impact by focusing on specialized solutions and offering customizable blends to cater to specific meat processing needs. This diversity within the market allows food processors to select tailored solutions that align with their specific requirements. The competitive environment of the global portable ultrasound devices market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the global portable ultrasound devices market.
Top Player’s Company Profiles
- General Electric Company
- Siemens
- Koninklijke Philips N.V.
- SAMSUNG
- FUJIFILM Holdings Corporation
- Shenzhen Mindray Bio-medical Electronics Co., Ltd.
- Canon Inc.
- BenQ Corporation
- Hitachi Ltd
- Fukuda Denshi
Recent Developments
- In 2023, FUJIFILM introduced the Sonosite LX, marking a noteworthy addition to the landscape of point-of-care ultrasound systems. Touted as the most advanced luxury system in this category, the Sonosite LX aims to elevate diagnostic and procedural confidence for healthcare professionals.
- In 2023, Philips made strides in the field of point-of-care ultrasound with the launch of Lumify, a handheld device. Philips, a leader in health technology, expanded the capabilities of Lumify by incorporating increased hemodynamic evaluation and measuring functionalities.
Portable Ultrasound Devices Key Market Trends
Technological Convergence with Other Devices
- The integration of portable ultrasound devices with other technologies, particularly smartphones and tablets, represents a significant advancement in the field of medical diagnostics. This convergence enhances the functionality and connectivity of portable ultrasound devices, leading to a more seamless and user-friendly experience for healthcare professionals.
Portable Ultrasound Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global portable ultrasound devices market analysis reveals a dynamic marketplace largely propelled by the convergence of factors that underscore the evolving landscape of medical diagnostics. Technological advancements in the medical field, marked by continual innovation, serve as a significant catalyst for market expansion. Patients' growing preference for non-invasive treatments has further contributed to the surge in demand for sophisticated imaging technologies.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.70 billion |
| Market size value in 2031 | USD 2.78 billion |
| Growth Rate | 5.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Portable Ultrasound Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Portable Ultrasound Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Portable Ultrasound Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Portable Ultrasound Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Portable Ultrasound Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Portable Ultrasound Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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